{"id":67303,"date":"2025-02-19T15:32:35","date_gmt":"2025-02-19T10:02:35","guid":{"rendered":"https:\/\/piceapp.com\/blogs\/?p=67303"},"modified":"2025-02-19T15:32:40","modified_gmt":"2025-02-19T10:02:40","slug":"invoice-furnishing-facility-in-gst","status":"publish","type":"post","link":"https:\/\/piceapp.com\/blogs\/invoice-furnishing-facility-in-gst\/","title":{"rendered":"Invoice Furnishing Facility in GST"},"content":{"rendered":"\n
The Invoice Furnishing Facility in GST is an optional facility that allows a registered person or a regular taxpayer with a total annual turnover of less than \u20b95 crore to file quarterly returns while uploading monthly invoices. <\/p>\n\n\n\n
This reduces the taxpayer’s burden of uploading all invoices at the end of the quarter. Further, buyers can claim input tax credit (ITC) monthly without waiting for the quarter end on their outward supplies.<\/a><\/p>\n\n\n\n Learn in detail about this facility, its importance and the filing due date. Check out if you are eligible to submit an IFF under the GST Council regulations.<\/p>\n\n\n\n The invoice Furnishing Facility (IFF) was notified in November 2020 by the Central Board of Indirect Taxes and Customs (CBIC) for small taxpayers using notification number 82\/2020- Central Tax. With effect from 2021, this optional feature allows taxpayers to upload invoices for the first two months of a quarter.<\/p>\n\n\n\n Taxpayers, however, need to file returns with Form GSTR-1 for the last month of the quarter. For instance, for the quarter of January to March, you can upload invoices for January and February while filing GSTR-1 returns for March.<\/p>\n\n\n\n For the first two months, you can upload information pertaining to invoices and Credit Notes<\/a>\/Debit Notes-Registered (CDNR) of B2B supplies. Notably, as quarterly taxpayers you do not need to fill in IFF details while filing GSTR-1 returns again. However, the data that you fill in the uploaded invoices will reflect on GSTR-2A\/2B of your buyer.<\/p>\n\n\n\n Here are the eligibility criteria for IFF:<\/p>\n\n\n\n \u25cf\u00a0\u00a04A, 4B, 4C, 6B, 6C – to add details of B2B invoices<\/p>\n\n\n\n \u25cf\u00a09A – to include details of amended B2B invoices (B2BA)<\/p>\n\n\n\n \u25cf\u00a09B – to include information pertaining to Credit\/Debit Notes Registered<\/p>\n\n\n\n \u25cf\u00a09C – To include amended Credit\/Debit Note Registered (CDNRA) details<\/p>\n\n\n\n Notably, if you do not upload invoices, you need to furnish invoice information at the end of a quarter in Form GSTR-1 for all three months. Moreover, it does not include B2C invoices.<\/p>\n\n\n\n IFF facility is important for the following reasons:<\/p>\n\n\n\n \u25cf\u00a0Buyers can claim and optimise ITC (input tax credit) every month without waiting for quarter end. As a result, an increased number of buyers are likely to approach your business to claim credits.<\/p>\n\n\n\n \u25cf\u00a0If you have multiple B2B invoices (Business to Business Invoices<\/a>), you can reduce your tax burden, compliance burden, compliance cost and the need to upload a large volume of invoices at the end of a quarter. Thus, it ensures seamless monthly reconciliation.<\/p>\n\n\n\nWhat Is the Invoice Furnishing Facility (IFF)?<\/h2>\n\n\n\n

Criteria for IFF<\/h2>\n\n\n\n
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Why Is Invoice Furnishing Facility Important?<\/h2>\n\n\n\n
What to Submit in the IFF Scheme Under GST?<\/h2>\n\n\n\n